Brazil's CSN announces 10.5% steel price increase for July

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will increase domestic prices by 10.5% on July 1, it told distribution clients this week, sources with knowledge of the move told Fastmarkets.

Rising iron ore prices and a steep discount to domestic steel over imports support the action CSN has taken, the sources added. The company had already considered an increase in June but weakening demand amid the Covid-19 pandemic resulted in it being postponed.
The increase was widespread and across all lines of product, one source said on Thursday June 18. Although other flat-rolled steel producers have yet to confirm a price rise, the market is waiting for all companies to follow CSN, the source added.

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